Consumers with High Online Exposure Are Four Times More at Risk for Identity Theft According to New ID Analytics Study

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Study Confirms Correlation Between Online Behaviors and Likelihood of
Becoming a Victim of Identity Fraud

SAN DIEGO–(BUSINESS WIRE)–ID
Analytics®, LLC, a leader in consumer risk management, today
announced it has completed a study which verifies a correlation between
a consumer’s level of online exposure and their risk of identity theft.
The findings were previewed last month at the company’s Advance 2016
conference, the preeminent industry event for consumer identity and
credit risk professionals.

Today’s digital-savvy consumers seek even more convenience from the
organizations they interact with. This includes streamlined processes
both in-store and online. Consumers expect greater ease-of-use and
businesses must collect and retain more data about their customers to
satisfy consumer demands. Striking the right balance between protecting
a customer’s privacy, the need for security, and the customer’s desire
for convenience presents a challenge.

The study, “Online
Privacy vs. Security” analyzed how online activity exposes consumers
to greater risk of identity theft. The analysis completed by ID:A Labs
found that consumers who qualify as having a high degree of online
exposure are four times more likely to become victims of identity theft
than the general population. A high degree of online exposure is defined
as routinely sharing personal information through multiple online
channels.

“Consumers increasingly prioritize convenience over security and
privacy, which will likely lead to rising amounts of fraud in the coming
years. As criminals become increasingly well-armed with the insights
they need to steal more identities, they will become even harder to
catch,” said Dr. Stephen Coggeshall, Chief Analytics and Science Officer
at ID Analytics. “At ID Analytics, we are continuing to innovate and
build more predictive versions of our technologies and methodologies and
applying them to emerging fraud risks to help companies stay at least
one step ahead of sophisticated fraudsters. In the last six months
alone, we have seen promising results in tackling critical industry
challenges such as synthetic fraud and fraud rings while exploring new
concepts and developing models which look past the identity to predict
the intention of an applicant.”

The most predictive variable in determining whether someone’s online
exposure put them at higher risk for becoming an identity theft victim
was the number of active social profiles identified. This suggests that
consumers who limit their online exposure make it more difficult for
fraudsters to access their personal information. To reduce the risk of
identity fraud, consumers should be cautious with regard to what
information they share and where they share it.

ID Analytics sought to find out if there is really a trade-off between
convenience and the risk of having your identity stolen. To accomplish
this, ID:A Labs built a model designed to predict which consumers would
become an identity theft victim using data from an online data
aggregator which grabs information from social networks, websites which
publish public record data, and other public sources.

About ID Analytics, LLC

ID Analytics is a leader in consumer risk management with patented
analytics, proven expertise, and real-time insight into consumer
behavior. By combining proprietary data from the ID
Network®—one of the nation’s largest networks of
cross-industry consumer behavioral data—with advanced science, ID
Analytics provides in-depth visibility into identity risk and
creditworthiness. Every day, many of the largest U.S. companies and
critical government agencies rely on ID Analytics to make risk-based
decisions that enhance revenue, reduce fraud, drive cost savings, and
protect consumers. ID Analytics is a wholly-owned subsidiary of LifeLock,
Inc. please visit us at www.idanalytics.com.

ID Analytics and ID Network are registered trademarks of ID
Analytics, LLC all other trademarks and registered trademarks are the
property of their respective holders.